Trane Technologies plc (NYSE:TT) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Trane Technologies plc has received a consensus rating of "Hold" from sixteen research firms, with one sell rating, ten holds, and five buy ratings, reflecting mixed analyst sentiment.
• The company's average 12-month target price is set at $458.60, with recent adjustments from analysts raising their target prices significantly, including Morgan Stanley from $445.00 to $520.00.
• Trane Technologies reported $3.88 EPS for the last quarter, exceeding analysts' expectations of $3.79, alongside a revenue increase of 7.6% compared to the same quarter last year.

Shares of Trane Technologies plc (NYSE:TT - Get Free Report) have been assigned a consensus rating of "Hold" from the sixteen research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $458.60.

TT has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Morgan Stanley upped their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Northcoast Research lowered shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Citigroup upped their target price on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, UBS Group upped their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th.

Insider Activity

In related news, CEO David S. Regnery sold 22,497 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the sale, the chief executive officer owned 123,713 shares of the company's stock, valued at $50,722,330. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors have recently modified their holdings of TT. Norges Bank bought a new stake in shares of Trane Technologies during the 2nd quarter valued at about $1,356,065,000. Nuveen LLC bought a new stake in shares of Trane Technologies during the 1st quarter valued at about $877,468,000. GAMMA Investing LLC grew its position in shares of Trane Technologies by 35,458.2% during the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after buying an additional 2,010,123 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Trane Technologies by 245.1% during the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock valued at $722,493,000 after buying an additional 1,522,933 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after buying an additional 1,408,421 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $408.02 on Thursday. Trane Technologies has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The firm has a market capitalization of $90.79 billion, a P/E ratio of 32.36, a P/E/G ratio of 2.59 and a beta of 1.10. The company's fifty day moving average price is $434.72 and its two-hundred day moving average price is $396.90.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the previous year, the business posted $3.30 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, research analysts anticipate that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.